Minerva 3Q11 Earnings down 23.3% x 3Q10

The company (Bovespa: BEEF3) reported net income of R$18.8M in the third quarter of 2011, down 23.3% compared to 3Q10 (it reported a loss of R$24.5M in the second quarter of 2011).Net revenues totaled R$922.9M in 3Q11, an increase of 13.8% compared to 2Q11 and growth of 9.5% over the third quarter of 2010.Minerva S.A. is one of the market leaders in South America in the production and sale of fresh beef, live cattle and byproducts, with operations also in the beef, pork and poultry processing segments.